XONITEK Spices Up Fall Revels with Strategic Business Series Symposium in Upstate New York

Binghamton, New York (November 21, 2006): XONITEK Systems Corporation created some foliage of its own last Friday, November 17th, bringing the colorful visions of it’s XONITEK Strategic Business Series to Binghamton, New York, for a one day strategic symposium entitled “What’s in Your Tool Kit?” The event was held at the Binghamton Club in downtown Binghamton New York, from 9am to 6pm.

The XONITEK Strategic Business Series, a multi-dimensional campaign specializing in the education and manifestation of Best Practices for the business executive, was launched by XONITEK in the summer of 2006. The series endeavors to unite the traditionally isolated factions of the service, manufacturing and municipal industries by promoting instruction, opportunity, and growth in business despite industrial, social, economic, and geographical boundaries. Business executives and professionals across the northeast joined XONITEK in ringing in the November 17th event. 

Following an hour of continental breakfast and networking, the firm unveiled a succession of five (5) feature presentations, beginning with a vibrant introduction by Mike Borzumate, Lean Six Sigma Specialist, XONITEK Systems Corporation. In his dynamic presentation, Getting Lean: The Workout Regimen, Borzumate not only challenged his audience with the principles and application of Lean strategy, but also prepared the audience to consider the larger, deeper issues embedded in the day’s theme. “What is your treasure?”, he asked. “A dedicated leader regards his business, his people, and his service, as a treasure: acknowledging and embracing its weaknesses, but with the understanding that it isn’t a matter of saying that something is “right” or “wrong” but a matter of recognizing that there is a “better way.” Borzumate’s discussion on lean principles was complemented by a dynamic “lean tool” demonstration, featuring iGrafx Process 2006 for Six Sigma. iGrafx became a strategic XONITEK business partner in early 2006.

Starring next in the day’s cast was Robert Clarke, Director of Consulting Services, XONITEK Systems Corporation, with Harnessing the Energy of Your Information. Clarke’s discussion, complemented largely by his obvious passion on the topic, focused on the roles of Lean (velocity) and Six Sigma (process quality) within the business intelligence model. “The ultimate goal,” said Clarke, “is to achieve one version of the truth. You have to be ever vigilant to the information passing through your system. It’s essential to your organization’s continued success.” Clarke’s presentation emphasized the value of streamlining corporate data as critical in executing key, time sensitive business decisions with speed and accuracy. 

Joseph Paris, CEO and Founder of XONITEK Systems Corporation and keynote speaker, marked the tempo transition, moving from a more technical focus to a methodical discussion, and charged the audience with the creative, revolutionary challenge ofCharting the Course for the Blue Ocean. Fueled by the intricacies of the International Bestselling novel, “Blue Ocean Strategy” by W. Chan Kim and Renee Mauborgne (and his attendance at Mauborgne’s lecture at the World Business Forum in New York City this past September), Paris’ fiery presentation addressed the fundamentals of creativity and differentiation in the current business market. Paris discussed not only the process and benefits of adopting Blue Ocean Strategy, but touched upon the motivating factors for change, including the increasing threat of becoming beholden to the world of “peer benchmarking” and the promise of opportunity beyond the “feeding frenzy&” of the red ocean. “It’s time to get creative,” challenged Paris. “Not necessarily creative in the revolutionary, ground breaking, jaw dropping type of new ‘invention,’ it’s time to get creative in a way that you are able take the fundamentals of a product or service, and subtly spin it in a way that the end result appears to be entirely different product or service all together. The competition becomes irrelevant.”

Paul Orr, Director of Information Technology for Diemolding Corporation in Canastota, New York, followed Paris with a Diemolding Case Study on Grant Acquisition. In his fifty minutes of fame, Orr clearly mapped out the grant application process from concept to award, and discussed the growth opportunities that became possible to Diemolding after receiving a 95,000 New York State grant a few years back. Orr was joined later in his discussion by Terry Stark, Executive Director, Broome-Tioga Workforce Development System, who helped to clarifying attendee questions specifically related to government. 

Robert M. Fields, Attorney at Law and Owner of Fields Consulting Group in New York, New York, next addressed the audience with the sensitive issue of executive compensation inSquaring the Circle: Synthetic Equity for Closely held Employees. Fields’ presentation proposed Synthetic Equity as a way to afford key employees the “look and feel” of company stock (via phantom shares), without having to surrender the ownership rights associated with traditional equity interests. Addressing the often emotional “thorns of contention” involved in executive and employer relationships, Fields explained howSynthetic Equity works to alleviate the hesitations involved in the ownership transfer of equity rights. “Synthetic Equity allows key employees to participate in the value that they helped create,” he remarked. “It allows business owners to both protect their equity interests and retain key employees at length, with something I like to call golden handcuffs.” 

While a disappointed Jeffrey Wetherbee, Managing Director of the Small Business Technology Investment Fund for Empire State Development in Albany, NY, was unable to attend the day’s event, XONITEK President Joe Paris “picked up the tab,” and deliveredVenture Capital as a Path. Using Wetherbee&’s presentation as a framework for the discussion, Paris explained the concept and process involved in fund management, and provided instruction on the venture capital application process, including: how to develop the company message and how to project that message to the right channels.

XONITEK wrapped up the day with a Cocktail Reception and Power Hour, also held at the Binghamton Club.

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